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Stocks - Pfizer, Raytheon Rise Premarket, McDonald's Falls

Stock Markets Jul 28, 2020 08:11AM ET
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By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Tuesday, July 28th. Please refresh for updates.

  • Pfizer (NYSE:PFE) stock rose 2.8% after the pharmaceutical company raised its guidance for the full year, after its revenue and profit fell by less than expected in the second quarter. Pfizer and Biontech (NASDAQ:BNTX), up 3.4%, had said late Monday that they have started a late-stage clinical trial for one of their Covid-19 vaccine candidates, involving 30,000 people around the world.

  • 3M (NYSE:MMM) stock fell 2.8% after the industrial giant reported a 12% drop in quarterly revenue, as results were "significantly impacted" by the Covid-19 pandemic.

  • Raytheon Technologies (NYSE:RTX) stock rose 3% after the company reported better than expected second-quarter numbers, helped by a "good performance" in its defense business.

  • McDonald’s (NYSE:MCD) stock fell 4.3% after the fast food giant disappointed with its second-quarter results, as a sharp drop in its overseas sales weighed on earnings.

  • Harley-Davidson (NYSE:HOG) stock fell 4.9% after it unexpectedly swung to a loss in the second quarter as coronavirus shutdowns hit motorcycle sales.

  • Tesla (NASDAQ:TSLA) stock fell 2.3%, handing back some of Monday’s 8.7% gain, after Bernstein downgraded the stock to ‘underperform’, saying “we find it difficult to justify Tesla's current valuation even under our most bullish/imaginative scenario.”

  • S&P Global (NYSE:SPGI) stock rose 0.4% after its revenue grew 14% in the second quarter, as the pandemic led to a surge of corporate bond issuance.

  • DR Horton (NYSE:DHI) stock rose 3.1% after the home construction company reported a 33% rise in fiscal third-quarter profit, despite uncertainty due to the pandemic.

  • Eastman Kodak (NYSE:KODK) stock soared 203% after the one-time photography leader announced it had received a $765 million government loan to help expedite domestic production of some drugs. 

  • Altria (NYSE:MO) stock rose 1.5% after the tobacco producer lifted its quarterly dividend and introduced new guidance after its second-quarter earnings topped expectations.
  • Reckitt Benckiser ADR (OTC:RBGLY) rose 0.6% after the maker of Lysol reported booming sales of disinfectants in the wake of the pandemic.
  • Shopify (NYSE:SHOP) stock rose 2.8% after Goldman Sachs (NYSE:GS) upgraded its stance to buy, after missing the stock's hefty gains this year.

 

Stocks - Pfizer, Raytheon Rise Premarket, McDonald's Falls
 

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Comments (3)
Plopseven Schwartz
Plopseven Schwartz Jul 28, 2020 9:58AM ET
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Wow, turns out lobbying to have the president and everyone in his administration bring up your name every five minutes turns a profit, Pfizer. The billions of taxpayer theft in the form of “research grants” for a product you’ll gouge us on in the end couldn’t hurt either. It’s Gilead all over again.
Randall Wagner
Randall Wagner Jul 28, 2020 9:03AM ET
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Amazing high earning coming out this quarter. Thought we would have to wait for 3rd quarter!
Mike Hobbins
Mike Hobbins Jul 28, 2020 8:35AM ET
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Starting to See all the Disappointing Earnings Come In.
 
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